Much depends on the original pic's characteristics, and your desired outcome, as well as personal workflow comfort.

For example..sometimes I'll  Go to > Select > Color Range. and from that dialog...you have many selection possibilities presented (which could have a thread of it's own on how powerful that dialog can be)..

I agree...there are several means to the same end, when it comes to PhotoShop. 

 

For down and dirty cuts, I might use the Magic Wand Tool if  a reasonably good contrast between what I want cut already exist. (See Pic 3)
 
I typically use the Polygon Lasso (Or Magnetic Polygon Lasso) Tool for images with less contrast, or I need only a particular area cut, Like the trophy's in pic 2, the silly head in pic 4, or the Arm/ Jack Daniels Bottle group in pic 6.

“The fact that no one understands you…Doesn’t make you an artist.”